For the FY2025 ended December, Ong and Lim expect the in-house HHP manufacturing capacity to grow 150% to 2,000 units in FY2025, followed by a 35% growth to 2,700 units in FY2026. They add that based on announced plans, MTU Yuchai’s production capacity will also rise 43% in FY2025 to 1,000 units.
CGS International’s (CGSI) Natalie Ong and Lim Siew Khee are resuming coverage on US-listed China Yuchai International with an “add” call and a hiked target price of US$39.50 ($50.75) from US$13.30 previously.
China Yuchai, a subsidiary of SGX-listed Hong Leong Asia, manufactures high-horsepower (HHP) engines inhouse via its subsidiary Guangxi Yuchai Machinery (GYMCL) and joint venture (JV) MTU Yuchai.
